Toronto Dominion Bank Trims Stake in CVS Health Co. (NYSE:CVS)

Toronto Dominion Bank reduced its stake in CVS Health Co. (NYSE:CVS) by 10.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 666,260 shares of the pharmacy operator’s stock after selling 75,072 shares during the period. Toronto Dominion Bank’s holdings in CVS Health were worth $55,590,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Smith Moore & CO. raised its stake in shares of CVS Health by 1.6% in the 2nd quarter. Smith Moore & CO. now owns 31,855 shares of the pharmacy operator’s stock valued at $2,658,000 after acquiring an additional 490 shares during the period. Mitchell Capital Management Co. lifted its stake in CVS Health by 7.8% during the second quarter. Mitchell Capital Management Co. now owns 35,570 shares of the pharmacy operator’s stock worth $2,968,000 after purchasing an additional 2,584 shares in the last quarter. Avantax Planning Partners Inc. boosted its position in shares of CVS Health by 38.8% during the second quarter. Avantax Planning Partners Inc. now owns 28,554 shares of the pharmacy operator’s stock worth $2,383,000 after buying an additional 7,987 shares during the period. Whalerock Point Partners LLC grew its stake in shares of CVS Health by 2.7% in the second quarter. Whalerock Point Partners LLC now owns 10,392 shares of the pharmacy operator’s stock valued at $867,000 after buying an additional 275 shares in the last quarter. Finally, Tower Bridge Advisors raised its holdings in shares of CVS Health by 1.0% in the 2nd quarter. Tower Bridge Advisors now owns 231,908 shares of the pharmacy operator’s stock valued at $19,350,000 after buying an additional 2,396 shares during the period. 75.94% of the stock is currently owned by institutional investors.

CVS has been the subject of a number of research reports. Barclays lifted their price objective on shares of CVS Health from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, May 19th. Morgan Stanley increased their price objective on CVS Health from $99.00 to $114.00 and gave the company an “overweight” rating in a research note on Tuesday, August 31st. Deutsche Bank Aktiengesellschaft upped their price target on CVS Health from $95.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, August 5th. BMO Capital Markets boosted their price target on shares of CVS Health from $90.00 to $96.00 and gave the stock a “market perform” rating in a report on Wednesday, May 19th. Finally, Wolfe Research lifted their price objective on shares of CVS Health from $82.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 19th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, CVS Health currently has an average rating of “Buy” and an average price target of $94.89.

NYSE:CVS opened at $83.89 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.67. The firm has a market cap of $110.70 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 1.68 and a beta of 0.83. CVS Health Co. has a 1-year low of $55.36 and a 1-year high of $90.61. The firm’s fifty day moving average price is $83.62 and its 200 day moving average price is $81.03.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Tuesday, August 3rd. The pharmacy operator reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.35. CVS Health had a return on equity of 13.81% and a net margin of 2.59%. The business had revenue of $72.62 billion during the quarter, compared to analysts’ expectations of $70.27 billion. During the same quarter last year, the business posted $2.62 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, analysts expect that CVS Health Co. will post 7.84 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 2nd. Shareholders of record on Friday, July 23rd were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, July 22nd. This represents a $2.00 annualized dividend and a yield of 2.38%. CVS Health’s payout ratio is currently 26.67%.

In other CVS Health news, Director Edward J. Ludwig acquired 3,000 shares of the firm’s stock in a transaction on Thursday, August 5th. The stock was bought at an average cost of $79.55 per share, for a total transaction of $238,650.00. Following the completion of the purchase, the director now directly owns 17,334 shares in the company, valued at $1,378,919.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Troyen A. Brennan sold 2,625 shares of the stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $87.00, for a total value of $228,375.00. Following the completion of the sale, the executive vice president now owns 140,201 shares of the company’s stock, valued at $12,197,487. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.

CVS Health Profile

CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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